Arista Networks, Inc. $ANET Stock Position Lifted by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its position in Arista Networks, Inc. (NYSE:ANET) by 38.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 662,139 shares of the technology company’s stock after acquiring an additional 183,515 shares during the quarter. Arista Networks makes up approximately 0.9% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 21st largest position. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of Arista Networks worth $96,480,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bare Financial Services Inc grew its position in shares of Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after purchasing an additional 130 shares during the last quarter. REAP Financial Group LLC raised its position in shares of Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares in the company, valued at approximately $1,373,967.12. This trade represents a 44.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 216,464 shares of company stock valued at $27,553,548. 3.39% of the stock is owned by corporate insiders.

Arista Networks Trading Down 6.5%

ANET stock opened at $130.30 on Thursday. The firm’s 50-day moving average is $131.64 and its two-hundred day moving average is $135.80. The company has a market capitalization of $164.09 billion, a price-to-earnings ratio of 49.54, a price-to-earnings-growth ratio of 2.35 and a beta of 1.42. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business earned $2.40 earnings per share. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ANET shares. Morgan Stanley reduced their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Rosenblatt Securities restated a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a research report on Monday, November 24th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.44.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.